Published on 7/25/2023 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $533,000 29% contingent income autocalls on stocks, fund
By Kiku Steinfeld
Chicago, July 25 – Morgan Stanley Finance LLC priced $533,000 of contingent income autocallable securities due Aug. 22, 2024 linked to United States Natural Gas Fund, LP, Amazon.com, Inc. and Microsoft Corp., according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 29%, paid monthly, if each underlier closes at or above its 50% downside threshold on the related monthly observation date, plus any previously unpaid coupons.
The securities will be called automatically starting May 22, 2023 at par on any monthly call determination date if each stock closes at or above its initial level.
At maturity the payout will be par unless the worst performing asset closes below its 50% downside threshold level in which case investors will be fully exposed to the decline of the worst performing asset.
The notes are guaranteed by Morgan Stanley.
Morgan Stanley & Co. LLC is the agent.
| Issuer: | Morgan Stanley Finance LLC
|
| Guarantor: | Morgan Stanley
|
| Issue: | Contingent income autocallable securities
|
| Underlying assets: | Amazon.com, Inc., Microsoft Corp. and United States Natural Gas Fund, LP
|
| Amount: | $533,000
|
| Maturity: | Aug. 22, 2024
|
| Coupon: | 29%, paid monthly, if each underlier closes at or above its 50% downside threshold on the related monthly observation date, plus any previously unpaid coupons
|
| Price: | Par
|
| Payout at maturity: | Par unless the worst performing asset closes below its downside threshold level in which case investors will be fully exposed to the decline in the worst performing asset
|
| Call: | Automatically starting May 22, 2023 at par on any monthly call determination date if each stock closes at or above its initial level
|
| Initial levels: | $97.20 for Amazon, $258.06 for Microsoft, $7.76 for Gas
|
| Downside thresholds: | $48.60 for Amazon, $129.03 for Microsoft, $3.88 for Gas, 50% of initial level
|
| Pricing date: | Feb. 17, 2023
|
| Settlement date: | Feb. 23, 2023
|
| Agent: | Morgan Stanley & Co. LLC
|
| Fees: | 0.75%
|
| Cusip: | 61774TM41
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
